PinaSarap Industries provided the following inventory card:PurchaseDateUnits UsedBalance UnitsPriceUnits20.00010,00040,000Jan 1010020,000Jan 3110,000Feb 811030,000Feb 9 (returns from(1,000.00)41,000factory) Feb 9 (returns fromfactory)|(1,000.00)41,000Feb 2811,00030,000Using weighted average method, what is the cost of inventory on February 28?

Name: PinaSarap Industries provided the following inventory card:PurchaseDa
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Description: PinaSarap Industries provided the following inventory card:PurchaseDateUnits UsedBalance UnitsPriceUnits20.00010,00040,000Jan 1010020,000Jan 3110,000Feb 811030,000Feb 9 (returns from(1,000.00)41,000factory) Feb 9 (returns fromfactory)|(1,000.00)41,0

Average cost per unit = Total cost of goods available for sale / Total units available for sale…

Business

Accounting

PinaSarap Industries provided the following inventory card: Purchase Date Units Used Balance Units Price Units 20,000 10,000 40,000 Jan 10 100 20,000 Jan 31 10,000 Feb 8 110 30,000 Feb 9 (returns from factory) (1,000.00) 41,000

PinaSarap Industries provided the following inventory card: Purchase Date Units Used Balance Units Price Units 20,000 10,000 40,000 Jan 10 100 20,000 Jan 31 10,000 Feb 8 110 30,000 Feb 9 (returns from factory) (1,000.00) 41,000

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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